-In 2016, due to decline of American heavy-duty market, regular orders for 6 kinds of key shafts were reduced by nearly 20% and the total export amount was 9.3 million US dollars.

Acquisition

-The Company announced that it has signed an agreement with Chongqing Machinery & Electronics Holding Group Co., Ltd. to acquire the remaining 50% stake in Chongqing Heavy Automobile Yuandong Drive Shaft Co., Ltd. from Chongqing Machinery & Electronics. Xuchang Yuandong Drive Shaft will pay CNY 19 million for this deal, and will convert Chongqing Heavy Automobile Yuandong Drive Shaft into its wholly owned subsidiary. Chongqing Heavy Automobile Yuandong Drive Shaft generated CNY 19.76 million in sales and posted CNY 1.37 million in net loss in the first half of 2016. (From an announcement by the company on September 1, 2016)